A and B forma partnership without any partnership agreement. Afterthe
end of first year of in partnership. A draw the following profit and Loss Appropriation
Account:
Profit and Loss Appropriation Account Cr.
Particulars
Amount Particulars
Amount
24,000
7,800
To Salary to:
4,800
3,000
To Interest on Capital
@ 6%A 2.400
1.200
To Commission to
A To Profit
transferred to:
6,000
B
4,000
By Profit &
Loss A/C
(Net
Profit)
By interest on
Drawings:A 250
150
400
3,600
3,000
10,000
You are required to point out any contravention of the law, found in above account and
draw it in proper manner.
Answers
Answered by
3
balance of Rs. 2000
on 31st March 2016. On reconciling the following facts
were noticed :
4
1.
Cheque Rs. 500 deposited into the bank was
not collected & credited till 31st March.
2.
Cheque issued for Rs. 300 was not presented
to the bank for payment till 31-3 - 16.
3.
Interest credited by bank 30 Rs
Answered by
2
Answer:
balance of Rs. 2000
on 31st March 2016. On reconciling the following facts
were noticed :
4
1.
Cheque Rs. 500 deposited into the bank was
not collected & credited till 31st March.
2.
Cheque issued for Rs. 300 was not presented
to the bank for payment till 31-3 - 16.
3.
Interest credited by bank 30 Rs
Similar questions